HSBC hires Goldman's Westerman as co-head global banking

By Steve Slater

LONDON, Feb 24 (IFR) - HSBC has hired Matthew Westerman fromGoldman Sachs to become co-head of banking in its investmentbanking arm, part of several changes in the structure of theunit.

Westerman has been at Goldman Sachs for 16 years and wasmost recently chairman of its investment banking division inEurope, Middle East and Africa.

He will join HSBC in "the coming months" and work alongsideRobin Phillips, the other co-head of global banking, HSBC saidin a memo to staff on Wednesday seen by IFR. Goldman also sent amemo to staff announcing Westerman's departure.

HSBC's memo also said Spencer Lake, its head of capitalfinancing, is taking on a new role as vice chairman of GlobalBusiness and Markets, where he will focus on strategicinitiatives such as leading its work on the internationalisationof China's renminbi, infrastructure and sustainable financing. (Editing by Ian Edmondson)